L3Harris Technologies (LHX – Research Report), the Industrials sector company, was revisited by a Wall Street analyst yesterday. Analyst Ronald Epstein from Bank of America Securities reiterated a Buy rating on the stock and has a $265.00 price target.
Ronald Epstein has given his Buy rating due to a combination of factors that highlight L3Harris Technologies’ strong position in the defense sector. The company is making significant operational improvements, focusing on execution and efficiency, which are yielding positive results. L3Harris’ expertise in secure communications, space-based operations, and missile programs positions it well to benefit from increased investment by the US and allied militaries.
Additionally, L3Harris is well-positioned to secure potential awards related to the Golden Dome initiative, thanks to its strengths in threat detection, tracking, and propulsion. The company’s involvement in the Space Development Agency’s Tracking Layer and its unique capabilities in hypersonic missile tracking further enhance its prospects. Moreover, L3Harris is actively forming partnerships with emerging defense technology companies, such as its collaboration with Shield AI and Amazon’s Kuiper Government Solutions, which underscores its commitment to innovation and expanding its market opportunities.
In another report released yesterday, Barclays also maintained a Buy rating on the stock with a $255.00 price target.
Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LHX in relation to earlier this year.